JD.com Receives $550 million Investment from Google in Strategic Partnership

JD.com Receives $550 million Investment from Google in Strategic Partnership

China leading e-commerce company has received $550 million cash investment from Google in a strategic partnership to improve user shopping experiences in the world, including Southeast Asia, the U.S. and Europe. The two leading technology companies aim to explore the creation of next generation retail infrastructure solutions, to offer helpful, personalized and frictionless shopping experiences.

JD.com is a major rival of Alibaba, while Google is competing with Amazon on online shopping experience. JD.com investors includes Tencent and Walmart, and has strategic partnership with French giant hypermarket, Carrefour.

JD.com is China’s leading one-stop e-commerce platform, providing 301.8 million active customers. In 2014, JD.com became publicly listed on NASDAQ with a market value of more than $26 billion. In 2018 June, JD.com is trading around $58 billion in market value, more than twice its IPO price. JD.com is China’s largest online retailer and its biggest overall retailer, as well as the country’s biggest Internet company by revenue. It reported more than 266 million annual active customers, 405 warehouses and $37.5 billion revenue in 2016. The company was founded in 2004 in Beijing by CEO, Richard Liu who has an estimated net worth of around $10 billion.

Google is a subsidiary of Alphabet Inc, and owns products and platforms including Search, Maps, Gmail, Android, Google Play, Chrome and YouTube.